Winpak (TSE:WPK) Cut to "Hold" at National Bank Financial

Key Points

• Winpak (TSE:WPK) has been downgraded to a "hold" rating from a "strong-buy" by National Bank Financial, indicating a less favorable outlook for the stock.
• National Bank Financial also reduced its target price for Winpak from C$52.00 to C$48.00, reflecting concerns about the company's future performance.
• Despite the downgrade, CIBC has raised their target price for Winpak from C$50.00 to C$52.00, maintaining an "outperform" rating.

Winpak (TSE:WPK - Get Free Report) was downgraded by equities researchers at National Bank Financial from a "strong-buy" rating to a "hold" rating in a research note issued to investors on Thursday,Zacks.com reports.

Several other brokerages also recently commented on WPK. National Bankshares downgraded shares of Winpak from an "outperform" rating to a "sector perform" rating and reduced their price target for the company from C$52.00 to C$48.00 in a research report on Friday. Cibc World Mkts upgraded shares of Winpak from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 22nd. Finally, CIBC upped their price target on shares of Winpak from C$50.00 to C$52.00 and gave the company an "outperform" rating in a research report on Monday, April 28th.

Winpak Trading Up 1.5%

Shares of TSE WPK traded up C$0.61 during midday trading on Thursday, reaching C$40.80. The company's stock had a trading volume of 104,503 shares, compared to its average volume of 57,689. The company has a 50 day moving average price of C$44.60 and a 200 day moving average price of C$42.72. Winpak has a one year low of C$37.57 and a one year high of C$51.16. The company has a market cap of C$1.79 billion, a price-to-earnings ratio of 12.30, a price-to-earnings-growth ratio of 4.44 and a beta of 0.21.

About Winpak

Winpak Ltd manufactures and sells a variety of packaging materials and related packaging machines. The packaging materials are used primarily for perishable foods, beverages, and healthcare applications. It operates in three segments: flexible packaging, rigid packaging & flexible lidding, and packaging machinery.